the prices of land. High values usually call for

the prices of land. High values usually call for more intensive uses, or stated the other way around, intensive uses usually increase land values. Rappahannock landowners were asked to estimate the per acre value of their land, with and without buildings. From the response in the sample, it was apparent that owners believed the acreage value of their land was substantially above the average value as calculated from actual sales during 1973. The average owner estimated the value of his land without buildings as $1,548 per acre. This may be compared to an average value of $648, computed from the actual sales values recorded for the county. It is possible the owners were thinking of an “asking price,” not a minimum acceptable price. There may be a tendency to view one’s own land “at the margin,” that is, the most recent (high) price at which similar land sold, plus a shade more. Owners were asked: Do you think your land has increased more, less or about the same as the market? Sixty-one percent of the parcels were thought by their owners to be about the same as the market, 34 percent above and only five percent below the market.